Leadership Profile of Jeff Bezos&nbspEssay

Excerpt from Essay :

Leader and Background

Jeff Bezos is one of the prominent and renowned leaders in the present day. He is the founder and Chief Executive Officer (CEO) of Amazon. Prior to founding Amazon, Bezos worked at hedge fund D. E. Shaw where he thrived and became the firm’s senior vice president in just a span of four years. However, he had an aspiration of creating a startup and in 1994 he quit his job and established Amazon.com. He started the company in a garage and a great deal of his meetings were held at a Barnes & Noble store within the neighborhood. Since then, Bezos has immensely developed the company and is one of the highest paid CEOs and has a net worth of $57 billion. Most of all, Bezos is well known for investing in different companies and ideas and is accredited for being one of the key individuals who have revolutionized e-commerce to the place it is today (D’Onfro and Kim, 2016).

The Organization

Amazon.com is one of the top companies in the world. It is ranked position 12 in the Fortune 500 list. From its humble backgrounds and expectations of its downfall, Amazon can be deemed to be the epitome of a growing start-up to a successful company. The company is presently known for coming up with appealing and high retailing products in the industry. Essentially, Amazon is an e-commerce organization whose center of operations is situated in Seattle, Wash. It is acknowledged as being one of the first biggest firms to retail products over the internet. It was founded by Jeff Bezos in 1994 and went public in the year 1997. It is imperative to note that from the outset, Amazon began as an online bookstore and rapidly broadened its horizons through product diversification and including goods such as clothing, video games, and electronics (Schneider, 2017). In addition, not only has it diversified its operations, it has also increased its accessibility to more consumers. Over the years, Amazon has grown to become one of the biggest and most relied upon online retailing corporations across the globe, that sells a wide range of commodities to prospective buyers across the United States and internationally as well. The company endeavors to make certain that the needs of its consumers are addressed and satisfied at all times. Its key business strategy is utilizing the low-priced strategy where it maintains the prices of its commodities at a minimum level. Most of all, Amazon endeavors to have consumer satisfaction and is one of its key objectives. For instance, if a consumer purchases a product from the website that has any defections, the company accepts product returns (Schneider, 2017). In the contemporary, Amazon has a market capitalization of $458.778 billion and its shares retail at $954.99. This is indicative of the magnitude to which the company has grown and developed considering the share price during its initial public offer (IPO) was $18. Moreover, the remarkable financial performance of the company can be perceived from the fact that the revenue generated in the past three years increased from $88.988 billion in 2014 to $107.006 billion in 2015 and further up to $135.987 billion in 2016. More outstandingly, the net income increased from $-241 million in 2014 to $2.371 billion in 2016 (Yahoo Finance, 2017).

The Philosophy

The philosophy employed in Amazon by Jeff Bezos is one that he delineates as “Day 1” and “Day 2” philosophy. This philosophy is largely accredited…

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